Hash rate plays a vital role in every Proof-of-Work (PoW) blockchain. It measures the computational drive for all transaction verification and block additions to the network. Hence, the Bitcoin hash rate represents the number of people involved in BTC mining. As the number of miners increases, the hash rate will also increase. This results in maintaining the security and stability of the Bitcoin ecosystem. Many investors will consider hash rates before engaging in any project. Before now, the BTC price and hash rate have maintained a direct proportionality relation. This is because there are always more transactions with the buying and selling BTC when the price is up. With such a price surge, there will be more mining activities to mint more tokens to balance the liquidity. Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next? But the recent outturn of events has proved a deviation between the relationship between BTC price and hash rate. Despite the bearish market trend with BTC going below $25,000, its hash rate has drastically risen. Bitcoin hash rate has reportedly grown to a new all-time high of 231.428 ExaHash per second. The network difficulty of Bitcoin follows similarly with the rise in its hash rate. It has created a formidable stance for BTC in its recent position at 30.283 trillion. Bitcoin Records More Growth In Different Aspects The new growth cuts across several BT...
Coinbase Challenges WBTC Delisting Lawsuit
